Maybe spending on lessons is the motivation to practice for them. I took lessons in high school and college, and I never felt prepared for the lesson. It always seemed like I was barely making it. However, it really progressed my playing. Now, I use some of the online educational tools. This has helped me continue progressing, but not at the rate of a good teacher I’m sure, since practice is self motivated.
On the other hand, one time my dad “traded” a guitar to a guy in return for the promise of “lessons”. Well the guy wasn’t a teacher and it totally was not worth it for him... I’m still mad about that.
At the end of the day, I don’t think I’d sell gear for that. But, I would save and work towards educational improvement, instead of acquiring gear for a while.